TORONTO, April 19 /CNW/ - Eiger Technology, Inc. (Eiger) (TSX: AXA;
OTCBB: ETIFF) announces that John Simmonds, currently Chief Operating Officer,
will assume the responsibilities of Chief Executive Officer and President,
effective immediately. As part of a planned succession, he takes over from
Gerry Racicot, who has retired as Chief Executive Officer, President and
Director of Eiger after founding the company 16 years ago.
Mr. Simmonds is an entrepreneur with a decades-long track record of
capitalizing on market opportunities, particularly in the communications
sector. He has extensive experience in building teams, operating systems, and
distribution networks. Mr. Simmonds is currently Chairman of Wireless Age
Communications Inc., a wireless products and services company, Chairman of
TrackPower, Inc., a gaming and entertainment company, and holds several other
board and executive positions. Previous roles have included Chairman of
Circuit World, Director of Glenayre Electronics Ltd., Director and CEO of
Intek Global Corporation, Director of Minacs Worldwide, and founder of
merchant bank Simmonds Capital Limited, as well as having served on numerous
other board and executive positions.
"I would like to thank Gerry for his commitment and contribution in
building Eiger from its inception sixteen years ago," said John Simmonds. "I
know that the Board, associates and friends will join me in wishing Gerry all
the best and happiness in his retirement."
"I have had the pleasure to get to know many fine people at the company
and would like to thank my friends and colleagues for their support over the
years," said Gerry Racicot. "I leave Eiger with contentment and confidence
that John will create significant shareholder value through his tremendous
dedication, experience and proficiency."
Eiger Technology, Inc., headquartered in Toronto, Ontario is a publicly
traded company listed on the Toronto Stock Exchange. For more information
please call (416) 216-8659 of refer to www.sedar.com.
The management of the company, who take full responsibility for its
content, prepared this press release. The Toronto Stock Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release. This press release contains forward-looking statements relating
to future events and results that are based on Eiger's current expectations.
These statements involve risks and uncertainties including, without
limitation, Eiger's ability to successfully develop and market its products,
consumer acceptance of such products, competitive pressures relating to price
reductions, new product introductions by third parties, technological
innovations, and overall market conditions. Consequently, actual events and
results in future periods may differ materially from those currently expected.
For further information:
For further information: Jason Moretto, Chief Financial Officer, Eiger
Technology, Inc., Telephone: (416) 216-8659, Ext. 302,